The difference between rich and poor can be seen clearly in these 12 countries with highest wealth inequality. When thinking about the financial standing of a country and its people, we often think that rich governments would equate to a generally rich population. That is not the case however as for most countries the differences between the rich and poor are vast. This can be attributed to a number of factors, such as education, corruption, standards of living, etc. It can also be a complex combination of numerous reasons that contribute to the large difference between the incomes of the rich and poor.
We can say that one can never truly achieve equality in terms of finances. As long as we have something to define how wealthy a person is, there will always be people who will have more wealth compared to others. It is a sad truth about the society we live in. You may find that the wealthiest are included in countries that are among the richest and most expensive in the world. Like the ones listed in the 11 Countries with the Highest Standard of Living. One can never truly experience the depth of this inequality unless you’ve been to these countries yourselves.
This list is ranked based on the Gini coefficient. To put it simply, the closer the number is to zero, the more equal the financial standing between rich and poor. No country has ever gone below 30% so we can say that there is always at least a 30% difference between the wealth of the rich and the poor. There are however countries that have not yet been computed with the Gini coefficient so this list can only be accurate up to a point. Let’s find out more as we explore these 12 countries with highest wealth inequality.
12. Belize
Wealth Inequality: 53.1%
Found on the eastern coast of Central America, Belize is the only country in the area with a national language of English. It has the lowest population density in the region but is one of the highest growing populations of the world so far.
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11. Colombia
Wealth Inequality: 53.5%
One of the more popular countries in South America, Colombia is very diverse. Their population consists of different races, from immigrants of other countries to colonist lineages from centuries ago. The country has been well known for armed conflicts in the past.
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10. Zambia
Wealth Inequality: 54.6%
Since Zambia’s independence in the 60s, growth and improvement have been slow, and it was not only until a few years ago that Zambia experienced economic growth. This has been due to an effort to stem out corruption and improve the standard of living. Zambia is now known as one of the world’s fastest economically reformed countries.
9. The Central African Republic
Wealth Inequality: 56.3%
Also known as CAR, the Central African Republic is known as one of the poorest countries in the world despite being rich in natural resources. This may be a case of mismanagement, but the country has had its share of violent conflicts especially between religions.
8. Honduras
Wealth Inequality: 57.4%
Not to be confused with the British Honduras, this country is often termed as the Spanish Honduras. The country has been constantly experiencing political instability and social problems. Due to this the country has become one of the poorest in the world. They also have the highest murder rate in the world.
7. Angola
Wealth Inequality: 58.6%
Angola is one of the oldest inhabited regions in the world. Despite it being one of the fastest growing economies today, it still has a lot of problems to overcome. The country’s standard of living remains low and so it’s population’s life expectancy.
6. Haiti
Wealth Inequality: 59.2%
Haiti is one of the first countries to have success with a slave revolt. They are also one of the first countries to receive independence in Latin America having defeated the superpowers of the West. As of now Haiti is riddled with problems especially with the frequency of political killings and instability.
The highest wealth difference can be found as we continue this list of 12 countries with highest wealth inequality.
5. Botswana
Wealth Inequality: 61%
Botswana is the fastest growing economy in Africa and was formerly the poorest country in the world. The country is one of the most sparsely populated places in the world. One of the major problems they have to overcome is the high HIV/AIDS infection rate.
4. Namibia
Wealth Inequality: 61.3%
Coming from a history of violence, Namibia has become one of the most stable countries in the world having a consistently growing economy because of accessible natural resources. Growth has been slow however as the population remains very low and sparse due to the country being mostly desert.
3. Comoros
Wealth Inequality: 64.3%
Comoros is an archipelago island nation found in the Indian Ocean. They are a mixture of different cultures. According to studies half of the population of the country is below the international poverty line.
2. South Africa
Wealth Inequality: 65%
South Africa has a diverse and somewhat solid history having very little violence in terms of their politics. They are the second largest economy in Africa but they still suffer from a very high poverty rate and inequality.
1. Seychelles
Wealth Inequality: 65.8%
One of the reasons why inequality is quite noticeable in a country like Seychelles is because of their low population. With such a low number for comparison, the differences are made larger despite the country being quite stable.
This has been the list of 12 countries with highest wealth inequality. Hopefully their situations will improve in the coming years.
